In accordance with the provisions of the Accounting Law no. 82/1991, republished with the subsequent modifications and completions, and respectively of the Order no. 2861/2009 for the approval of the Norms regarding the organization and performance of the inventory of the elements of the nature of assets, debts and own capitals, there is the obligation that annually, usually at the end of the financial year, the inventory of the entire patrimony takes place. The responsibility for the good organization of the inventory works, according to the provisions of Law no. 82/1991, republished, and in accordance with the applicable accounting regulations, belongs to the administrator. In order to carry out the inventory, the administrator approves written procedures, adapted to the specifics of the activity, which he submits to the inventory commissions.
Failure to comply with this obligation shall be sanctioned by the control bodies with a fine. The inventory of the elements of the nature of assets, liabilities and equity represents the ensemble of operations through which the existence of all the respective elements is ascertained, quantitative-value or only value, as the case may be, at the date when it is performed.
The main purpose of the inventory is to establish the real situation of all elements of the nature of the assets, liabilities and equity of each entity, as well as of assets and values held for any reason, belonging to other legal or natural persons, in order to prepare annual financial statements. provide a true and fair view of the financial position and performance of the entity for that financial year.
The inventory commission may not include the management of the warehouses subject to inventory, the accountants who keep records of the respective management, nor the internal or statutory auditors. Through internal procedures, the entities may establish that the accounting officers who keep records of the respective management also participate in the inventory operations, without them being part of the commission.
If the inventory takes place during the year, the data resulting from the inventory operation shall be updated with the entries or exits from the period between the inventory date and the end date of the financial year, the updated data being then included in the inventory register. The operation of updating the data resulting from the inventory will be performed so that at the end of the financial year the real situation of the elements of the nature of assets, liabilities and equity is reflected.